The main markets for Vietnamese iron and steel are ASEAN member countries, the European Union, and the United States.

However, data for the first ten months of the year show a notable decline in exports to these regions. Shipments to ASEAN totaled 2.8 million tonnes, while exports to the EU fell by 35.9% to 1.03 million tonnes, and shipments to the US dropped by 52.6% to 721,000 tonnes.

The decline has been attributed to changing trade policies and increasing tariff barriers, which have reduced the competitiveness of Vietnamese steel in international markets. Steel has been the export sector most affected by trade defence measures in key markets, including Thailand, Canada, the UK, the US, and the EU.

Thailand concluded its anti-dumping investigation on cold-rolled stainless steel from Vietnam in October, imposing tariffs ranging from 9.95% to 29.8% for five years to protect domestic industries.

Meanwhile, in the EU market, cold-rolled flat steel from Vietnam has been subject to new import regulations since December 4, 2025. These measures, which will be in effect for nine months, require that all shipments within the scope be fully documented and verified by the EU Customs Authority upon import.

According to the Trade Remedies Authority of Vietnam, from 2004 to August 2025, Vietnam’s steel industry has faced 86 trade defence cases in importing markets, representing more than 30% of all trade remedy cases involving Vietnamese exports.

After a period of rapid growth in 2021, when steel exports surged 124.3% compared to 2020 amid rising global steel prices, the industry’s export turnover has not returned to its previous peak. Last year, Vietnam exported 12.6 million tonnes of steel, valued at US$9.1 billion, up 13.5% in volume and 8.8% in value compared to 2023.

January iron and steel imports from China sees drastic upturn

VOV.VN - In January Vietnam imported Chinese iron and steel with a value of more than US$1.06 billion, up 27.3% in volume and 22.3% in turnover compared to December, 2023.